ROBLOX Raises $4 Million For Its Online Building Game For Kids

8 years

ROBLOX this morning announced it has closed a $4 million Series B round of funding from existing backers, including ALTOS Ventures and First Round Capital. The company offers a game that allows kids aged seven to 16 to architect their own environments in a massively multi-player 3D world, subtly teaching them software coding practices along the way.

Started in September 2006, the company now claims over 5.7 million unique visitors and 650 million page views per month. ROBLOX says revenue is 75 percent year over year but failed to provide numbers to adequately back up that claim.

ROBLOX comes with its own virtual economy, millions of characters and a fairly large repository of game worlds and other customized virtual items. The company says kids spend 19 million hours per month on ROBLOX.

The startup generates revenue from subscriptions, sales of in-game virtual currency, advertising and pre-paid cards sold at various retail outlets.

The company will use the additional capital to expand and plans to double its workforce in 2011.